THE ANZ’s top institutional banking executive in Australia believes Asian investors will increasingly provide the growth capital sought by local mining companies.
Cathryn Carver is in the process of moving from Hong Kong, where she was ANZ’s global head of capital markets, to her new base in Perth, where she will be managing director institutional Australia.
In her new role, Ms Carver will focus on the natural resources, agribusiness and infrastructure sectors.
The appointment makes her the most senior banking executive from any of the ‘big four’ to be based in Perth.
ANZ WA chairman John Atkins said the appointment reflected the importance the bank placed on Western Australia and the opportunities the state offered.
“The business here has grown a lot in the past four years and become increasingly important,” he said. “This appointment will take it to the next level.”
Ms Carver, who is a Curtin University graduate, said there would be opportunities to link her experience in Hong Kong with the new role.
“We have built a very strong capital markets business in Asia,” she said, adding that ANZ is the market leader in loan syndication in the region.
Ms Carver said there was an array of investors – individuals, private banks, sovereign wealth funds and insurance companies – across the region looking for opportunities.
“This is much more than a China story.”
She said the bank was aiming to provide a variety of capital solutions for mining companies (equity, convertibles and debt instruments) through to traditional lending and hedging tools.
Ms Carver added that the natural resources and infrastructure sectors fitted neatly together, given the large investment in rail, port and other infrastructure for mining projects.
The bank would also be targeting the contractors working on projects.
Ms Carver, who has 20 years of finance experience with Macquarie, Westpac and ANZ, said it was fortuitous her new role was in her hometown.
In another recent move, the ANZ has appointed Angelo Manos, formerly of Melbourne, as its WA general manager, business banking.
He will head a team of nearly 100 business bankers, which makes ANZ the smallest of the majors in this segment, according to the WA Business News Book of Lists.